The different ways you can use Ethereum to make money explained

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Ethereum is so much more than just a coin. Its blockchain is unique as it allows you to create smart contracts that people can modify for specific purposes.

It is legendary for Decentralised Finance because of its limitless uses that go beyond the necessary tools. The very fact that you can change Ethereums use is so relevant today with most things being done online and many people losing their jobs leading to the growing gig economy.

More people are working remotely and are looking for ways to handle paying their employees and hoping to innovate in this season. Clients want to come out of Covid-19, winning despite the tribulations they have faced.

Everyone wants to make lemons out of lemonade because that is a better story to share. ETH can offer you a better story in this climate in various ways you can make money through the coin.

Ethereum is doing better than ever.

Ethereum 2.0

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The Ethereum price has been soaring as people continue to anticipate the new upgrade. The upgrade will be called Ethereum 2.0 and will make Ethereum 1.0 much more efficient and improve its scalability.

The very fact that ETH is handling its limitations is great for investors because it shows that the coin is growing, and this is something investors can trust. The fact that demand for ETH is growing pushes the price up, making it a significant investment. Let’s take a look at the graph.

Ethereum price

Over the past four days, the coin has had incredible bullish momentum shown by the predominantly green candles. The Moving Average Convergence Divergence (MACD) demonstrates how there has been a lot of bullish action since the 28th of November as investors anticipate the upgrade.

The MACD has been thick, pointing to a lot of bullish momentum. There has been so much bullish action that the resistance level ended up being way outside the Bollinger Bands (BBs) higher expectation level.

The coin reached the resistance level of $635.5 by 12:00 GMT, meaning that would have been an excellent time to sell the currency. As an investor, you want to sell the coin when operating above the middle level of the blue BBs.

Ethereum is showing a lot of potential to make people money and is a cheap investment option compared to Bitcoin.

More ways to make money

The gig economy

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As the world turns to the gig economy, people are looking to ETH to make it more affordable for them to pay people and receive the money. Without a central player controlling ETH, people can use the ETH system to cut out the middle man and save money from withdrawal charges.

A practical tool that could help you make choices that leave you with more money.

Develop a more secure app

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According to fueled.com, the top 20 apps generate $82,500 daily. Most Apps are on a centralized platform, meaning that there is only one central force managing everything, making the system prone to hacks.

Ethereums decentralized platform has many miners working on the system making it less prone to fail. An Ethereum system is more secure and thus has more longevity, which allows for a lot of business success and profit.

Mining Ethereum

mathematics computation

You can make money from acting as an Ethereum miner. Sparkpools data showed how previously people were making $1.85 per 100 megahashes seconds (MH/s) on the 27th of June 2020. By July, miners were getting paid up to $3.27.

In August, the pay for miners soared to $5.8. When the price goes up, so does miners pay usually. If your passionate about solving mathematical problems while the coin is on the rise, now is the best time to get involved.

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Camomile Shumba

I am a freelance journalist that is always learning and investigating. I explore how current issues affect you. My training in journalism has enabled me to write thorough and compelling content.

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